Wall Street screws self for a change

March 24, 2012 - Harry Eagar

The company that executes about 10% of US stock trades couldn't trade itself.

You probably never heard of Bats. As the sometime lieutenant governor of Virginia, Henry Howell, used to say, there's more things going around in the dark than Santa Claus.

Read the whole Bloomberg report, although this graf deserves to stand out:

"The exchange operator was trying to raise money less than two years after a crash erased $862 billion in less than 20 minutes from U.S. share values, a plunge that critics linked to the fragmented market structure that helped Bats thrive."